One of the main reasons startups fail is because they run out of money or have the wrong team. You're thinking, "that has nothing to do with me," that's probably true. But maybe you could do something about it and actually help startups succeed while increasing your team's utilization and generating higher profits for your agency. This blog post is for service agencies who want to help startups build their company and share in their success.
1) Believing that you need VC money
Founders often believe that to build a great startup, one necessarily needs venture capitalists’ financial help, or as we call it at BV4: “VC money”. This is the biggest misconception that a founder can make. To all the founders out there: you do not need VC money to be successful. To be successful, you need a strong complementary team that knows each other well, a great solution to an existential problem, a ton of hard work, and some investors that believe in you, but these investors must not necessarily be VCs. And yes, some luck is also essential to success.
A common misconception from first-time startup founders is that the most important aspect of their “startup idea” is that it should be original and novel. The large majority of successful startups are not created with an original idea; most often there are several companies that start more or less concurrently in a given space. For example, Google was not the first search engine; Facebook was not the first social network.
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